Sunday, September 28, 2008

Blinded by anti- Americanism and Bush Derangement Syndrome, Mat McCarten launches a blistering attack on the US 'free market' system. He doesn't seem to understand that the US system is little different from the NZ or Australian free market systems which have operated for over sixty years. Furthermore he seems to have little understanding of the way federal politics works in the US and demonstrates his lack of knowledge in his opening salvo:-

"The trillion-dollar, taxpayer-funded handout to criminal and irresponsible corporations in the United States surely puts an end to the nonsense that there is any such thing as a "free" market."

The silly boy doesn't seem to realise that he is referring to a proposal supported by his leftie friends the Democrats, the same democrats who singlehandedly created the very crisis which now exists, who have enough numbers in the senate and in congress to have passed the measure a week ago. But they won't pass it.

The real reason the scheme has not been passed is that Republicans object to the use of tax payers money to feather the nests of failed big businesses and their supporters and so does the majority of the American public. So the ever duplicitous Democrats want what is called 'cover' from the Republicans. They want at least 110 Republican congressmen to vote for the measure as it exists so they they can go out to the public and say 'It wasn't us, it was them too."

McCarten carefully ignores the simple fact that what Republicans want, and what they will get, are changes to the scheme which will shift the financial load from tas payers to businesses; reinstate the firm regulations and oversight of consumer lending which the Clinton administration removed so that people who could not afford to buy houses and could not service loans were encouraged to do so; ensure none of the failed CEO's ride away with large fortunes; and ensure sane and reasonable capital and lending markets can continue without the current hysterical panic and fear.

It's pretty simple really but of course lefties never miss an opportunity to misrepresent anything to do with the USA.

McCarten goes on to run the 'John Key' attack line with veiled reference to Merril Lynch and the demise of the BNZ here.

Remember, we spent a billion dollars of our taxes bailing out the Bank of New Zealand in the early 1990s. The bank made the same mistakes that the American institutions have made.

McCarten failed to read Brian Gaynor yesterday. Gaynor has more understanding of economics and finance in his little toe than McCarten will gain in a lifetime and pointed out the simple truth that the BNZ was quickly on sold by the government AT A PROFIT. In other words, there was no cost to the tax payer.

That's what the responsible Republicans are negotiating from the irresponsible Democrats. The same irresponsible Democrats who created the problem and then took bribes from the corporates to prevent any serious supervision and exposure of their activities.

8 comments:

Nice one! it's great to see that somebody does at least understand what's really happening with the bailout negotiations.The Dems wanted to earmark around 20% of the taxpayer's bailout money for their pet projects and "progressive" organisations as a condition of passing the bill.When McCain et al objected the MSM screams "McCain holding up bailout".Some journos in NZ need to get out more.

"That's what the responsible Republicans are negotiating from the irresponsible Democrats. The same irresponsible Democrats who created the problem and then took bribes from the corporates to prevent any serious supervision and exposure of their activities."

You seem to be incapable of seeing the world as anything other than black or white (gosh who does that remind us of?) Democrats bad, Republicans good. It takes a mighty dose of delusion to look at the last 20 years of American policy and maintain this stance.

Thankfully the American people are waking up. Palin is rapidly becoming a joke and the polls are all breaking for Obama.

McCarten seems daft. He doesn't understand much about free-market. The only thing he knows is forced-market, ie, lobbying for legislations that will force employers to do something (such as pay rise, minimum pay, etc...) that they don't like, had they been left alone to decide voluntarily.

Oh god, you can't seriously try and say the republicans did nothing to start this? They could've reinstated the regulation when they got in, they didn't. Oh and calling the democrats left is a bit disingenuous, they're about the same place as national, maybe slightly more liberal in terms of freedoms, maybe. National aren't as right as the republicans, but they're not as law and ordery either. ALthough taking act to bed might turn them into that....how a liberal party can be law and order is anyone's guess?